Cryptocurrency Q&A
When will a coin become ISO 20022 compliant?
When will a coin become ISO 20022 compliant?
Giulia
Sat Jul 06 2024
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5 answers
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As a keen observer of the cryptocurrency and financial landscape, I'm curious to know: When is it anticipated that a particular coin will achieve compliance with the ISO 20022 standard? Given the importance of standardization in the financial world, particularly with regard to cross-border payments and settlements, I'm eager to understand the timeline for this compliance, as it could significantly enhance the coin's interoperability and global acceptance. Could you elaborate on the steps being taken to ensure this milestone is achieved, and what the potential implications would be for the coin and its community?
5 answers
alexander_smith_musician
Mon Jul 08 2024
Institutions that have yet to embark on the journey towards ISO 20022 compliance have until 2025 to achieve this standard. This timeline provides a window for organizations to adapt their systems and processes to align with the requirements of the new standard.
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mia_harrison_painter
Sun Jul 07 2024
BTCC's commitment to providing a comprehensive suite of services has made it a popular choice for both retail and institutional investors. By offering spot and futures trading, BTCC enables investors to diversify their portfolios and capitalize on market opportunities. Additionally, its wallet service provides a secure storage solution for digital assets.
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SunlitMystery
Sun Jul 07 2024
It is important to clarify that the terminology "ISO 20022 compliant coin" may be misleading. The coin or token itself is not compliant with ISO 20022, but rather, it is the systems and processes surrounding its use and trading that need to adhere to the standard.
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CherryBlossomDance
Sun Jul 07 2024
ISO 20022 is a global standard for financial messaging that aims to enhance the efficiency, reliability, and security of financial transactions. By becoming compliant, institutions can ensure that their messaging systems are interoperable with those of other organizations, facilitating smoother and more secure transactions.
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Alessandra
Sun Jul 07 2024
Among the many cryptocurrency exchanges operating globally, BTCC, a UK-based platform, offers a range of services including spot trading, futures trading, and wallet management. These services allow users to buy, sell, and store cryptocurrencies in a secure and convenient manner.
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